Contract Prices (CP) of Liquefied Petroleum Gas (LPG) can vary over time due to factors such as supply and demand dynamics, global oil prices, geopolitical events, weather conditions, and regulatory changes. Analyzing the CP trend of LPG over a year involves tracking how the prices have fluctuated from one period to another.
In a typical analysis, you would:
Data Collection: Gather historical data on LPG Contract Prices for the past year. This data could include monthly or weekly prices, depending on the availability of information.
Data Visualization: Plot the CP data on a line chart or graph, with time (months or weeks) on the x-axis and the CP values on the y-axis. This visualization will help you visualize the trends and patterns over the year.
Identify Trends: Examine the chart for any noticeable trends, such as upward or downward movement in prices. Look for any significant price spikes, dips, or periods of stability.
Factors Analysis: Research and identify key events or factors that may have influenced CP changes during specific periods. These factors could include changes in oil prices, supply disruptions, demand fluctuations, policy changes, and geopolitical tensions.
Comparative Analysis: Compare the CP trend with other relevant factors, such as changes in global oil prices, production levels, or changes in market demand. This comparison can provide insights into how different variables may be correlated.
Seasonal Patterns: Consider any seasonal patterns that might impact LPG prices. For example, demand for LPG might increase during colder months for heating purposes.
Forecasting: Based on historical data and identified trends, you might attempt to make predictions about potential future CP movements. Keep in mind that forecasting is inherently uncertain and should be approached cautiously.
Reporting: Present your findings in a report or presentation format, detailing the observed trends, factors influencing the trends, and any insights gained from the analysis.